Chart Of The Day: Gold Miners Stealth Rally—The Bull Has Begun

Published 10/11/2015, 12:20 AM
Updated 07/09/2023, 06:31 AM
GDX
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We've had a stealth, 30% rally off Market Vectors Gold Miners' (NYSE:GDX) low and still almost no one believes in the rally. Many bears aer still trying to short this market.

This is how bull markets start—with no one on board and and shorts still trying to press a very mature down trend. This is the recipe for the initial rally off the bear market bottom, and it will likely go much further than anyone anticipates. The largest rallies occur at the very beginning and very end of a bull market.

GDX Weekly 2014-2015

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